Question 9 (of 10) value: 10.00 points Exercise 15-11 Adjusting factory overhead LO P4 The following information is available for Lock-Safe Company, which produces special-order security products and uses a job order cost accounting system April 30 May 31 Inventories Raw materials Goods in process Finished goods $ 41,000 45,000 10,30022,000 64,00036,400 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 193,000 400,000 Indirect materials Indirect labor Other overhead costs 12,000 71,000 103,500 1,220,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 50% Determine whether there is over or underapplied overhead using T-accounts Factory Overhead ndirect materials Indirect labor Other overhead costs 1,200 71,000 103,500 200,000 Applied overhead 24,300